Brands are increasingly committed to leveraging mobile to reach consumers and growing their mobile ad budgets.
According to research by Forrester, 74% of marketers expect to see their mobile budget increase this year, with a third expecting that increase to be 15% or more. This further supports a prediction released by Forrester earlier this year, forecasting that mobile display and social ad spend would grow from $25.5B in 2017 to $50.5 billion by 2021.
The latest study, carried out in conjunction with the Mobile Marketing Association (MMA), finds that 36% of marketers use mobile advertising primarily for branding, 28% for direct response and 36% apply mobile to both. Video attracts 30% of mobile spend.
However, there is something of a lack of transparency with 57% identifing transparency over middleman fees, data and media placements as challenges in planning and buying mobile display Media agencies fail to address marketers’ concerns over the buying process.
47% say they are willing to sacrifice mobile advertising reach for better precision, while 32% agree with the opposite.
